Alibaba (BABA) shares gain after announcing strong cloud sales in its fiscal third quarter and highlighting its artificial intelligence (AI) related gains. The Chinese e-commerce tech company is also in focus after announcing a partnership with Apple (AAPL) to bring Apple Intelligence features to iPhones in the Chinese market.
Manhattan Venture Partners head of research Santosh Rao joins Catalysts Co-Hosts Seana Smith and Madison Mills to discuss why Alibaba stock is “definitely” a Buy in his view as “a big beneficiary” of AI.
“AI is going to help [Alibaba’s] core business,” the analyst says, explaining, “They’re using it for their advertising for their e-commerce and all that.”
“AI is a must. Every company has to use that word … [Alibaba] has partnerships with many key players” like its new Apple partnership, Rao explains. “Competitively [the company is] in a good position and needs to keep innovating, which it is, because the competition is right, nipping at their heels.”
To watch more expert insights and analysis on the latest market action, check out more Catalysts here: https://finance.yahoo.com/videos/series/catalysts/
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